Common use of Export Controls and Sanctions Clause in Contracts

Export Controls and Sanctions. (a) Neither (i) Rowan, any of its Subsidiaries, or any employee, officer, or director of Rowan or any of its Subsidiaries nor (ii) to Rowan’s knowledge, any Representative of any of the foregoing, (A) is currently or has been within the past five years the target of Trade Sanctions (including by being designated on the list of Specially Designated Nationals and Blocked Persons or on any other sanctions list maintained by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), the U.S. Department of State, the United Nations Security Council, the European Union or Her Majesty’s Treasury or direct or indirect ownership or control by one or more designated parties), or is or has been within the past five years operating, organized or resident in a country or territory that itself is the target of Trade Sanctions (currently, Crimea, Cuba, Iran, North Korea and Syria); or (B) has, directly or, to the knowledge of Rowan, indirectly, participated in the past five years in any prohibited or unlawful transaction or dealing involving a person or entity that is the target of Trade Sanctions, or with any person or entity operating, organized, or resident in a country or territory that is the target of Trade Sanctions.

Appears in 3 contracts

Samples: Transaction Agreement, Transaction Agreement (Ensco PLC), Transaction Agreement (Rowan Companies PLC)

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Export Controls and Sanctions. (a) Neither (i) Rowanthe Company, any of its Subsidiaries, or nor to the Company’s knowledge any employee, officer, or director of Rowan the Company or any of its Subsidiaries nor (ii) to Rowanthe Company’s knowledge, any Representative of any of the foregoing, (A) is currently or has been within the past five 5 years the target of Trade Sanctions (including by being designated on the list of Specially Designated Nationals and Blocked Persons or on any other sanctions list maintained by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), the U.S. Department of State, the United Nations Security Council, the European Union or Her Majesty’s Treasury or direct or indirect ownership or control by one or more designated partiesTreasury), or is or has been within the past five 5 years operating, organized or resident in a country or territory that itself is the target of Trade Sanctions (currently, Crimea, Cuba, Iran, North Korea Korea, Sudan and Syria); or (B) has, directly or, to the knowledge of Rowanthe Company, indirectly, participated in the past five 5 years in any prohibited or unlawful transaction or dealing involving a person or entity that is the target of Trade Sanctions, or with any person or entity operating, organized, or resident in a country or territory that is the target of Trade Sanctions.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Ensco PLC), Agreement and Plan of Merger (Atwood Oceanics Inc)

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